Fossil-fuel subsidies in South Korea
South Korea: Fossil-fuel subsidies was 1.23 billion billions of current united states dollars in 2024. ◆ Volatile
Fossil-fuel subsidies in South Korea, 2010–2024
Source: United Nations Environment Programme – with minor processing by Our World in Data. Measured in billions of current united states dollars.
Analysis
In 2024, fossil-fuel subsidies in South Korea stood at 1.23 billion billions of current united states dollars. That is the lowest value across all 15 years on record.
That represents a change of down 58.9% on the previous year and down 37.2% over ten years.
Over the whole period, fossil-fuel subsidies in South Korea peaked at 7.39 billion billions of current united states dollars in 2022 and was at its lowest, 1.23 billion billions of current united states dollars, in 2024.
South Korea ranks 55th of 189 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Fossil-fuel subsidies in South Korea, year by year
| Year | billions of current united states dollars | Change |
|---|---|---|
| 2010 | 1.92 billion billions of current united states dollars | — |
| 2011 | 1.88 billion billions of current united states dollars | -2.1% |
| 2012 | 1.80 billion billions of current united states dollars | -4.3% |
| 2013 | 1.98 billion billions of current united states dollars | +10.0% |
| 2014 | 1.96 billion billions of current united states dollars | -1.0% |
| 2015 | 1.71 billion billions of current united states dollars | -12.8% |
| 2016 | 1.38 billion billions of current united states dollars | -19.3% |
| 2017 | 1.46 billion billions of current united states dollars | +5.8% |
| 2018 | 1.47 billion billions of current united states dollars | +0.7% |
| 2019 | 1.40 billion billions of current united states dollars | -4.8% |
| 2020 | 1.38 billion billions of current united states dollars | -1.4% |
| 2021 | 2.60 billion billions of current united states dollars | +88.4% |
| 2022 | 7.39 billion billions of current united states dollars | +184.2% |
| 2023 | 2.99 billion billions of current united states dollars | -59.5% |
| 2024 | 1.23 billion billions of current united states dollars | -58.9% |
South Korea compared with similar countries
- South Korea's 1.23 billion billions of current united states dollars is above the median for high income countries, which is 955.00 million billions of current united states dollars, 1.3× the median. (64 countries reporting)
- South Korea's 1.23 billion billions of current united states dollars is above the median for East Asia & Pacific, which is 10.00 million billions of current united states dollars, 123.0× the median. (31 countries reporting)
Biggest year-on-year movements
Years where Fossil-fuel subsidies in South Korea changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2022 | +184.2% | 2.60 billion billions of current united states dollars | 7.39 billion billions of current united states dollars |
| 2021 | +88.4% | 1.38 billion billions of current united states dollars | 2.60 billion billions of current united states dollars |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 1.70 billion billions of current united states dollars | 1.38 billion billions of current united states dollars | 1.98 billion billions of current united states dollars | 10 |
| 2020s | 3.12 billion billions of current united states dollars | 1.23 billion billions of current united states dollars | 7.39 billion billions of current united states dollars | 5 |
Countries ranked near South Korea
- 52 Sri Lanka 1.44 billion billions of current united states dollars compare
- 53 Israel 1.33 billion billions of current united states dollars compare
- 54 Romania 1.25 billion billions of current united states dollars compare
- 56 Bahrain 1.16 billion billions of current united states dollars compare
- 57 Hungary 1.13 billion billions of current united states dollars compare
- 58 Bolivia 1.08 billion billions of current united states dollars compare
More energy & mining data for South Korea
- Fossil fuel consumption by fuel, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Primary energy use, annual growth rate -1.55 % change on previous year (2025)
- Coal consumption, per capita 0 terawatt-hours per person (2025)
- Coal consumption, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Primary energy use, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Primary energy use, per capita 0.0001 terawatt-hours per person (2025)
- Coal production, per capita 0 terawatt-hours per person (2025)
- Coal production, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Fossil fuel consumption by fuel, per capita 0 terawatt-hours per person (2025)
- Fuel imports 25.7% (2024)
Frequently asked questions
- What is fossil-fuel subsidies in South Korea?
- Fossil-fuel subsidies in South Korea was 1.23 billion billions of current united states dollars in 2024, according to United Nations Environment Programme – with minor processing by Our World in Data.
- What is the highest fossil-fuel subsidies recorded in South Korea?
- The highest recorded value was 7.39 billion billions of current united states dollars in 2022.
- What is the lowest fossil-fuel subsidies recorded in South Korea?
- The lowest recorded value was 1.23 billion billions of current united states dollars in 2024.
- How does South Korea rank for fossil-fuel subsidies?
- South Korea ranks 55th out of 189 countries with data for 2024.
- Is fossil-fuel subsidies rising or falling in South Korea?
- Over the last ten years it is down 37.2%. The long-run trend across the full record is volatile.
- Where does this South Korea data come from?
- The figures come from United Nations Environment Programme – with minor processing by Our World in Data, published as part of Fossil-fuel subsidies. Statizoid updates them automatically from the source API.
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About this data
Fossil-fuel subsidies (consumption and production) (billions of nominal United States dollars).